Commonwealth Numbered Acts

FRINGE BENEFITS TAX ASSESSMENT ACT 1986 No. 39 of 1986 - SECT 149

149. (1) For the purposes of this Act, a benefit shall be taken to be provided
during a period if, and only if, the benefit-

   (a)  is provided, or subsists, during a period of more than 1 day; and

   (b)  is not deemed by a provision of this Act to be provided at a
        particular time or on a particular day.

(2) For the purposes of sub-section (1), but without limiting the generality
of that sub-section, a benefit constituted by the subsistence of a lease or
licence in respect of property, or a benefit in respect of a loan, shall be
taken to be provided during the period when the lease or licence subsists or
while a person is under an obligation to repay the whole or any part of the
loan, as the case may be.